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Study examines global executives' media consumption

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While global executives are shifting more of their media consumption toward electronic sources, the majority still use such traditional media as TV, national newspapers and industry trade journals on a regular basis, according to a study by the Financial Times and b-to-b agency Doremus New York.
The study, “Decision Dynamics 2008,” was based on an online survey of 338 global senior executives conducted in the fourth quarter of last year. It examined media usage and technology ownership among top executives at global companies.
According to the survey, 55% of executives now consume about 75% of their work-related media electronically, while 25% use traditional media. One-third say their work-related media consumption is evenly split between electronic and traditional.
Eighty-five percent of executives predict that in five years they will consume more than half of their work-related media electronically.
The study also looked at media consumption by time of day.
It found that during the workday, 75% of executives use online media; 43% read an industry trade journal; 31% read a national newspaper; and 25% read a general-business publication.
After work, 76% watch television; 42% listen to the radio; 38% read a general-business magazine; 34% go online; 30% read a local newspaper; and 20% read an industry trade journal.
“Right now, advertisers need to address their messages to an audience of senior executives that has a mix of media habits,” said Chris Philip, chief experience officer at Doremus. “Some grew up before the tech boom but learned to get comfortable with technology, and some are in their late 30s and early 40s, for whom technology is second nature.
“It will be interesting, as the younger executives move up the ranks, to see what forms of media they prefer. Smart advertisers should keep current and relevant as they watch media preferences unfold.”
The study also classified executives into groups, depending on their technology ownership and usage. It found 15% of senior executives to be “technophiles”; 55%, “tech-savvy”; and 20%, “Luddites.”
Technophiles own an average of 8.7 electronics devices (such as cell phones, PDAs and MP3 players). Tech-savvy execs own an average of 5.3 devices, while Luddites own an average of 2.5 devices.
“While technophiles skew a little younger, there are still a lot in the 45-to-55 [age group],” said Hope Picker, director of strategic research at Doremus.
One of the big differences between technophiles and the other groups is their use of technology products at work for digital media consumption and communications.
Eighty percent of technophiles use a BlackBerry or other PDA at work, compared with 53% of tech-savvies and 47% of Luddites.
Also, 69% of technophiles download podcasts at work, compared with 38% of tech-savvies and 34% of Luddites.
The survey found that 65% of technophiles use professional networking sites, compared with 51% of tech-savvies and 39% of Luddites.
On average, 91% of executives use cell phones at work; 59% have a wireless Internet connection; and 29% use digital cable at work.
The survey found that, on average, 77% of senior executives listen to webcasts at work; 58% read blogs; 56% watch streaming video; 41% listen to podcasts; 36% read RSS feeds; 25% contribute to blogs; 20% belong to social networking sites; 12% participate in virtual worlds; and 9% own a blog.
The study also looked at how senior executives use cell phones for e-commerce and other transactional activities. It found that about 15% of executives conduct online banking on their cell phones, 10% do online shopping and 5% manage investments.
When asked if they would be receptive to receiving advertising on their cell phones, 70% of executives said no; 18% said they would be willing to receive ads in exchange for service discounts; 10% said they would receive them on an opt-in basis only; and 2% said yes without condition. M